Dive Brief:
- Caesars Entertainment saw net revenues in Las Vegas decline 2.3% year over year in the third quarter of 2026, according to an earnings report published Tuesday. The company also reported that adjusted EBITDA in the segment decreased 9.5% year over year in Q3.
- Despite a decline in Vegas, Caesars posted 2.5% year-over-year growth in systemwide net revenues in Q3, with its regional and digital segments increasing 5.9% and 4.8% year over year, respectively, during the period, the report detailed. However, Caesars saw systemwide adjusted EBITDA decline 2.1% year over year in the third quarter.
- For the first nine months of the year, Caesars’ systemwide net revenues were up 2.7% compared to the prior-year period while its Las Vegas segment was down 2%, per the report. The third-quarter results come amid Caesars’ pending acquisition by Fertitta Entertainment, which advanced during Q3.
Dive Insight:
Caesars did not host an earnings call to address its third-quarter results due to Feritta’s planned acquisition, the company said in the report. Additionally, executives did not provide written statements in the report.
Fertitta is expected to take Caesars private, with the resort operator’s common stock to be no longer listed on the Nasdaq, in a deal valued at $17.6 billion. Caesars first entered a definitive agreement to be acquired by Feritta in May.
The acquisition advanced in the third quarter, with Caesars shareholders voting in September to approve it along with other notable developments.
Despite shareholder approval, Fertitta still needs to obtain antitrust clearance from the Federal Trade Commission and gain approval in each jurisdiction where Caesars has a gaming operation to complete the deal. The processes for both are underway and could take several months to finalize, Fertitta executives previously said.
The acquisition would combine the companies’ domestic casino resorts and gaming portfolios, including Caesars’ Las Vegas Strip and regional operations. It would also bring together the pair’s online and retail sports betting platforms as well as Fertitta’s restaurant holdings.
Caesars hotel and gaming competitor MGM Resorts International similarly faced a takeover bid earlier this year, from Barry Diller-owned media conglomerate People Incorporated. However, People Inc. withdrew its proposal last month.
